ON’s (ONON) Outperform Rating Reaffirmed at Telsey Advisory Group

ON (NYSE:ONON)‘s stock had its “outperform” rating reissued by stock analysts at Telsey Advisory Group in a report released on Tuesday, MarketBeat Ratings reports. They currently have a $53.00 price target on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 0.55% from the stock’s current price.

Several other research analysts have also issued reports on ONON. Bank of America raised shares of ON from an “underperform” rating to a “neutral” rating and raised their target price for the company from $21.00 to $55.00 in a research note on Monday, September 23rd. Truist Financial raised their price objective on shares of ON from $51.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Hsbc Global Res upgraded shares of ON to a “hold” rating in a research report on Thursday, September 5th. TD Cowen lifted their price objective on ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, UBS Group increased their target price on ON from $55.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $54.33.

ON Price Performance

ONON stock opened at $52.71 on Tuesday. The company has a 50 day moving average price of $49.24 and a 200 day moving average price of $42.97. ON has a fifty-two week low of $24.15 and a fifty-two week high of $56.44. The stock has a market capitalization of $33.19 billion, a PE ratio of 122.58 and a beta of 2.25.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). The firm had revenue of $627.66 million for the quarter, compared to analyst estimates of $634.43 million. ON had a net margin of 5.87% and a return on equity of 11.02%. As a group, equities analysts expect that ON will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ON

A number of hedge funds and other institutional investors have recently bought and sold shares of ONON. Price T Rowe Associates Inc. MD grew its stake in shares of ON by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,787,871 shares of the company’s stock worth $98,636,000 after acquiring an additional 14,674 shares in the last quarter. 1832 Asset Management L.P. grew its position in ON by 66,838.9% in the second quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock valued at $93,500,000 after purchasing an additional 2,406,200 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in ON during the 1st quarter worth about $65,898,000. Acadian Asset Management LLC boosted its stake in shares of ON by 574.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock worth $59,878,000 after buying an additional 1,315,006 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of ON by 100.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock valued at $49,716,000 after acquiring an additional 642,894 shares in the last quarter. Institutional investors and hedge funds own 33.11% of the company’s stock.

About ON

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.